Bet Each Way, Lay Win, Lay Place . . .  & . . .  Lay Each Way, Bet Win, Lay Place.
We can expect that the the Each Way odds won't exactly mirror the Win & Place odds all of the time, so providing that we can get matched at favourable odds by offering to bet or lay at better than the current odds, or anticipating an odds movement there is a chance that we could trade to profit if using this strategy.
If we trade a single runner, there are 3 possible outcomes for these trades :-
1.  Hit the winner,
2.  Don't hit the winner, but our horse is placed,
3.. Finish Un-placed.

In my experience, if we try to balance our trade for an equal profit or loss across all 3 possible outcomes, any profit will be quite small in relation to our E/W stake.
If we can eliminate one of the possibilities, profits can be increased.
With a bit of imaginative staking, we can eliminate outcome 3 "Unplaced", by reducing the P & L for that result to zero whatever the result.
We are then left with outcomes 1 & 2 with the possibility of bigger profit if we have a successful trade.

The spreadsheets described below offer several options using manual input spreadsheets, or spreadsheets that show the stakes required to eliminate one of the 3 possible outcomes.
Spreadsheets with manual inputs for all 3 markets allow the user to set all 3 stakes to any level and juggle those stakes until acceptable P & L is in the sheets.
The spreadsheet that automatically eliminates  outcome No. 3 by setting the P or L to zero requires only an input for the Each Way stake, plus the 3 sets of odds..
Stakes for the Win & Place markets are then shown in the spreadsheet to eliminate the "Unplaced" result.

In theory, we can expect the odds in these 3 markets to keep in step with one another, just as football markets do.
With commission in 3 separate markets, to make a success of these trades we will probably need to bet high and lay low at odds better than the current odds on offer.
Unfortunately, there is no easy way to profit in any market or combination of markets if we trade just within Betfair or any other exchange.
Betting and laying to profit in Horse Racing markets is just as difficult as it is in markets for other sports.

Copyright notice.  In the video below, Betfair content shown is for demonstration purposes only, and is presented with the kind permission of The Sporting Exchange Limited.  © The Sporting Exchange Limited.

For a BIGGER VIEW of the video, click the small icon bottom right with 4 square corners.
The Video below describes 2 spreadsheets that show the staking required to eliminate the Un-placed outcome, by reducing the P & L to zero whatever the result.
The only inputs required are the Fraction for the Each Way Place odds, an Each Way stake, and the 3 sets of odds for our runner in the 3 markets.

 

Each Way + Win + Place spreadsheet package      £10 After payment, there will be 4 files to download from the download web page. 1.  Bet E/W, lay Win, lay Place . . . . .set your own stakes. 2.. Lay E/W, bet Win, Bet Place . . . . set your own stakes. 3.  Bet or Lay E/W, lay Win, lay Place with zero profit or loss for Unplaced result. . . as per the video. 4.  Bet E/W, lay Win, lay Place, bias P & L to favour different results. . . . This is an experimental sheet Use these spreadsheets to trade across the Each Way, Win and Place markets of horse races. After payment via PayPal, select the "Return to merchant" option on the PayPal screen. PayPal should then route you to a download web page where you can obtain the Excel spreadsheet files.

£10

Bet Win, Bet Place.
Betfair has an Each Way market, but a bet in the Win market and a bet in the Place market can also be used to bet any horse Each Way of course.
The Betfair Each Way market odds may not always keep in step with the Win and Place odds for some runners.
As the odds fluctuate, betting Win & Place may pay better or worse than betting Each Way.
Video 2 below demonstrates a comparison of the 2 options.

The spreadsheet described here shows the staking required for betting one or more runners in both Win & Place markets if required.
Commission across both markets combined is built into profit and loss shown in the spreadsheet.
The spreadsheet allows for 15 win bets, and 10 place bets using the balanced staking of Dutching.
Those can be the same runners, or different runners in the 2 markets.
In the spreadsheet, bet stakes can be set to different levels in the 2 markets.
If you bet several runners in a Place market, profit and loss is shown for up to 4 placed horses.
You will need to check the Betfair market for the number of places involved in your chosen Place Market.

For those who look to bet Each Way by placing a bet in the Win market and a bet in the Place market :-
A small spreadsheet is also provided to work out the potential profit from a bet in the Each Way market in Betfair after commission deductions.
That allows a comparison to be made to see which staking method pays best after commission deductions, 2 separate bets, or a single bet in the Each Way market.

You may also find other uses for this Bet Win, Bet Place spreadsheet.
Input odds for several runners.
Change the stake sizes in the 2 markets to see the effect on profit & loss across the 2 markets for all possible combinations of Win & Place results.

Copyright notice.  In the videos below, Betfair content shown is for demonstration purposes only, and is presented with the kind permission of The Sporting Exchange Limited.  © The Sporting Exchange Limited.

For a BIGGER VIEW of the videos, click the small icon bottom right with 4 square corners.

• Video 1 describes the spreadsheet.
• Video 2 demonstrates how betting Win and Place at the available odds may pay better than betting in the Each Way market for some runners.
  Unlike football markets, the odds in Betfair's horse racing markets may not be totally in time with one another.  This video demonstrates that.
  I expect that the Betfair Each Way odds are the mid point between bet and lay odds of the combined Win & Place markets.
  Look at those early - - well before Race Time when there are gaps between bet an lay odds in those 2 markets, and there may be a substantial difference between the returns from 2 separate bets in Win & Place markets, and a bet in the Each Way market.
  Also a trade of 4 horses in the Win & Place markets is demonstrated.

 

Bet Win, Bet Place spreadsheet       £10 Use this spreadsheet to bet the Win market and bet the Place market of horse races. The spreadsheet allows for 15 win bets, and 10 place bets using the balanced staking of Dutching. After payment via PayPal, select the "Return to merchant" option on the PayPal screen. PayPal should then route you to a download web page where you can obtain the Excel spreadsheet file.

£10

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Lay The Extra Place.  Bet the place, lay the Extra place.
Bet and lay 2 separate place markets almost at level stakes.
This is a bet and lay strategy, but the outcome of the trade has the effect of laying a place market . . . . but with profit from placed horses and payout only on the single "Extra place".
Example :-
Bet a 3 place market, lay a 4 place market :- . . . . placed 1st, 2nd or 3rd = profit, 4th place = lay payout, Unplaced = zero profit or loss.

The spreadsheet described below shows what happens if we bet and lay 2 separate Place markets in the same horse race.
Bet a 2 place market and lay a 3 place market - - - -  and lose only if one of our horses finishes 3rd.
Bet a 3 place market and lay a 4 place market - - - -  and lose only if one of our horses finishes 4th.
Bet a 4 place market and lay a 5 place market - - - -  and lose only if one of our horses finishes 5th.

Hit the winner or placed horses in the smaller payout of the "Normal" place market to show a profit.
Unplaced runners will break even with zero profit or loss.
Only the "Extra" placed horse will cause a loss.

Example.  Bet a 3 place market, lay a 4 place market.
The staking in the spreadsheet is set to break even with zero profit or loss if a traded runner is un-placed.
Bet and lay a runner that is placed in the "Normal" 3 place market and we can have profit from that runner.
Bet and lay the "Extra" 4th placed horse, and there is a loss.
The overall effect is that we can lay one or more runners and only have payout if we hit the "Extra" 4th placed horse with one of our bet and lay trades of the 2 markets.
Bet and lay more than one runner using these 2 markets and only one horse will cause a payout - - the horse that finishes 4th.
If you have not bet and layed that 4th placed runner, there is profit from all horses traded that get placed 1st, 2nd or 3rd, in this example.

The spreadsheet has a facility for staking for a profit from on all runners except one - - - the 4th placed horse in the example above.
To do that, a percentage increase of the lay stake can be set in the spreadsheet, demonstrated in the videos below.

Copyright notice.  In the videos below, Betfair content shown is for demonstration purposes only, and is presented with the kind permission of The Sporting Exchange Limited.  © The Sporting Exchange Limited.

For a BIGGER VIEW of the videos, click the small icon bottom right with 4 square corners.

• Video 1 describes the spreadsheet.
• Video 2 shows a live trade.
  In the Win market early in the video, odds for my runner "Gwafa" were bet 21.0, lay 22.0.
  Gwafa was badly hampered half way through this hurdle race, and his jockey was thrown out of the saddle, so his finishing position was "Unplaced".
  Profit from the trade was £1 after commission deductions which is 20% of the £5 initial bet stake.
  Liabilities for the total trade in Betfair were minus -£18.17 if the horse finished 4th.
  If we divide £18.17 by £1.05, the lay odds for £1 profit after commission were lay odds 17.30 for a 4th place finish.
  Before you read too much into the difference between the lay odds 22.0 & lay odds 17.30, remember that Win market odds are geared to the winner, not a 4th place finisher.
  Nevertheless, for a lay of a single runner for a single finishing position, the difference in the lay odds is an interesting outcome.
  There was also the possibility of a bigger £4.44 profit, over 80% after commission if the horse had finished in the first 3.

Lay the Extra Place spreadsheet       £10 Use this spreadsheet to bet and lay 2 horse racing Place markets A link to the video above is in the spreadsheet is included. After payment via PayPal, select the "Return to merchant" option on the PayPal screen. PayPal should then route you to a download web page where you can obtain the Excel spreadsheet file.

£10